St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-18
THE STATE OF TRADE.
The Regular Weekly Review of
Commercial Matters.

Commercial Matters.
New YORK, June l7.-R. G. Dun Sc
Co.'s weekly review of trade says: 1t
is most encouraging that two of the
great speculatiOnS by which legitimate te
business has formerly been embarrassed
have come to an end and without disas-
ter. Arnold IL Co. in coffee and Ker-
shaw 4 Co. in grain. with the powerful
combinations behind them are broken,
with number of smaller operators, but
commerce and finance have not been
seriously disturbed. Anybody who has
read the wheat statistics given three
months ago in this review can now see
whether their figures were more correct
than the estimates of the speculative
ring. March 10 the review said that
1.-The surplus and excess of the years
home demand of 04,000,000 bushels al
ready exported was more than 0,000, 600
bushels Spectators ridiculed this
warning, but 40,000,0O0 bushels more
home demand had been satisfied, and
with thirteen days to the end of the
crop year the visible supply is AZ, 112, -
bushels, besides all wheat in farmefsg
hands and country elevators and all fiourS
in the country. For the first time
since February Chicago was selling
wheat for export, and the market is
now gradually adjusting itself to nat
ural channels. The sales of wheat had
reached 81, 1871 900 bushels, and of coffee
1872, 600. In both markets liquidation
is progressing with more quiet feeling.
The iron market is somewhat weakened
in tone by the breaking of the coke COM
bination, and the renewed production of
some furnaces which have been
banked" Cotton yielded but little
Wien other speculations broke, though
crop prospects are everywhere reported
to be the most favorable for seven years,
with 2112 per cent. increase in acreage.
A yield the largest ever known by 3Oo.-
900 bales, may result. and the price of
raw cotton is held 20 per cent. above
that of November. The distrust of cur
rent prices affects the dealings in goods,
though the demand is still heavy and
strong. Higher prices for wool at the
London sales, with stiff prices at the
West disheartened manufacturers, who
complain of heavy imports of woolen
goods classified as worSted and admit
ted at low duties, The reports from
many points, though almost uniformly
favorable as to volume of trade for the
season and exceedingly hopeful as to
the future, begins to note stringency of
money in several directions, at Cleve-
land because of large demands, at
Nashville because of real estate Specu-
latiOnS, at Omaha because large sums
have gone into buildings. and at Detroit
because of the wool movement. Chicago
bankers, in view Of larger demands from
legitimate customers thanwere expected,
regret that money has been tied up in
wheat loans. Collections are satisfaet-
ory at most points, about the average at
Kansas City; only fair at Denver, Gal
weston, Omaha and Nashville, and mot
so gO0d'' at st. Paul. where building
strike keeps 1000 men idle. The ore
handlers strike diSturbS shipments at
Cleveland. From Little Rock 1t is noted
that Arkansas real estate has advanced
100 per cent. i'll the past year. Foreign
trade is not improving i'll balance. May
showed decrease of 10,250 in exports
of cotton, and 81, 100000 in provisions
and cattle, while imports at New York
were l6 per cent larger than last year.
There is slight reduction in raw and
an advance in refined sugar. Leather
is quiet, with some yielding in quota
tiOnS, though the fair business done by
boot and ShOemakerS promises improve
ment. Railroad earnings continue eX-
cellent, and stocks yield but little in
price. The interstate commissioners
latest decision is not clearly understood.
1t is very broad. but its effect is received
with some hesitation. The business
failures during the last seven.days num-
Der for the United States, 1913, for Cam
ada, 20: total, 213; compared with 173
last week. and for the corresponding
week of last year, 155. The increase
noticed this week arises, of course,
mainly through the wheat excitement
quence the troubles seem To be lighter
tban pCnal i'm fhn cnpnfru